June 14, 2019 — High levels of tuna catches in the western, central, and eastern regions of the Pacific Ocean in May and June have led to supply bottlenecks and a tricky time for the logistics chain, according to an internal memo from the World Tuna Purse Seine Organisation (WTPO).
The note, seen by Undercurrent News, notes “above average” catching “from May this year to the first week of June 2019”. Over the same period, Atlantic catches have been average and Indian Ocean landings poor, it said.
At the end of May Undercurrent reported skipjack tuna prices in key processing hubs such as Thailand and Ecuador were expected to weaken in June, signaling the downtrend started in May might continue into the summer months.
Higher Chinese offering in key markets and lower demand in the Middle East were mentioned as the key bearish drivers, while some sources in Ecuador pointed out that price instability is hindering commissioning of new fishing vessels in Latin America.
High catch levels in May have seen a lack of carrier space at sea in the Western and Central Pacific Fisheries Commission (WCPFC) region, as well as a lack of cold storage space in ports, resulting in slow unloading and turnaround of reefer carriers, said WTPO.